Industrial for Sale Near Downtown

Industrial for Sale
Sale Pending
Catylist Listing ID: 30716667
Property Subtypes: Cold Storage, Free-Standing, Manufacturing, Light Industrial, Net Leased, Warehouse/Distribution
Status: Pending
Building Size (RSF): 59,419 SF
Gross Land Area: 4.14 Acres
Sale Price: $3,200,000
Unit Price: $53.85 PSF
Ceiling: 21 ft. / 18 ft. Clear
Docks/Doors: 4 Docks, 4 Doors
Office SF: 5,962 SF
Drive In Bays: 1 Bay
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Building Name: Amerhart
Usable Size (USF): 59,419 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/14/2021

Overview / Comments

Industrial property for sale just off US-131, close to downtown. Great opportunity for a user/investor. The building is 65% leased to Amerhart, a regional lumber supplier, who specifically leased the property due to a new, dedicated rail spur being installed. Current owner has done partial roof replacement, office improvements, painting, and asphalt improvements. The vacant space of nearly 21,000 SF features heavy power, newer office, a five ton crane, and two large drive-in doors for drive thru access.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: S 131 Corridor
Taxing Authority: Grand Rapids
Tax ID/APN: 41-17-01-326-003
Zoning: SD-IT
Property Located Between: Hall and Burton
Highway Access: 131
Rail Access: Yes
Site Description: Fenced outside storage and parking, with onsite dedicated rail spur.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1964
Year Renovated: 2016
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface
Overhead Cranes: 1
Sprinklers: Wet, Dry
Amps: 800
Volts: 480
X-Phase: 3
Heat Type: Natural Gas, Hot Water
Lighting: Fluorescent
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 23,436 150,435 311,055
Median Age: 25.71 30.83 33.39
Households: 6,475 55,498 118,850
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